The home-sharing platform raised the price range of its IPO from between US$44 and US$50 to between US$56 and US$60 per share, boosting its valuation to US$42 billion, according to a new filing posted by the company on Monday morning. Upon going public, Airbnb could raise up to US$3.1 billion. (Bloomberg, The Logic)

Talking point: Airbnb’s newest valuation greatly exceeds the US$18-billion price tag investors had placed on it at the height of the first COVID-19 wave in April. The company’s losses continued to balloon throughout the pandemic—for the nine months ended September 30, Airbnb saw a net loss of US$696 million, compared to a US$322.8-billion loss the previous year.  In its offering documents, the company noted risks to its business, including the prolonged impact of the pandemic, and the impact of regulations on hosts’ willingness to use the platform. But the tech sector is in the midst of an IPO wave like never before, fuelling investor optimism toward companies like Airbnb and DoorDash, which also raised its IPO target price range recently. Ahead of its IPO, Airbnb announced the launch of a non-profit that would provide free and discounted stays to refugees, people impacted by natural disasters and frontline workers